When you need to get a loan, sometimes you need collateral. People often ask, “can I borrow against my IRA?” Unfortunately you can not borrow against IRA accounts. However, lenders often ask what your IRA account balance is. Why do they care if you can’t borrow against an IRA? In most cases, the lender wants […]
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Borrow From IRA – Is IRA Borrowing Allowed?
Some retirement plans allow you to borrow against your account value. The question becomes, can you borrow from IRA’s? IRA borrowing is not allowed. However, you can do a few things that are very similar to IRA borrowing if you’re in a cash crunch. IRA Borrowing in 60 Days If you want to borrow from […]